21 January 2009 11:55 GMT / By Amy-Mae Elliott
Expensive audio equipment company Bose has announced it is to cut 1000 jobs, around 10% of its global workforce.In a statement the company said it was "restructuring its operations in response to the decline of the global economy, and its impact on consumer spending".
"Bose's premium products have a pretty hefty price point - thousands of dollars for their top-of-the-line home theater systems", former Bose retail director Doug Fleener told the Boston Globe.
"What you're seeing is that people are trading down. Maybe instead of buying the $3,000 audio system, people are going for the $1,500 system".
In addition, Ericsson has announced plans for cost reductions that will see 5000 jobs go "in anticipation of spending cuts by telecommunications companies this year". Audio, Biz, Bose, Ericsson, Phones
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